Insurance in South Korea
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Insurance in South Korea
Summary
Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
Summary
Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The insurance market consists of the non-life and life insurance sectors. The value of the market is shown in terms of gross premium incomes.
- The South Korean insurance market is forecast to generate total gross written premiums of $171.8bn in 2020, representing a compound annual rate of change (CARC) of -0.4% between 2016 and 2020.
- The life insurance segment is expected to be the market's most lucrative in 2020, with total gross written premiums of $93.9bn, equivalent to 54.6% of the market's overall value.
- One of the main drivers of insurance spending is consumer confidence.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the insurance market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in South Korea
- Leading company profiles reveal details of key insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea insurance market with five year forecasts
- What was the size of the South Korea insurance market by value in 2020?
- What will be the size of the South Korea insurance market in 2025?
- What factors are affecting the strength of competition in the South Korea insurance market?
- How has the market performed over the last five years?
- How large is South Korea’s insurance market in relation to its regional counterparts?
1 EXECUTIVE SUMMARY
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What is the rationale for the recent M&A activity?
7.5. How the COVID-19 outbreak has impacted the sector?
8 COMPANY PROFILES
8.1. Samsung Fire & Marine Insurance Co Ltd
8.2. Hyundai Marine & Fire Insurance Co Ltd
8.3. Hanwha Life Insurance Co Ltd
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What is the rationale for the recent M&A activity?
7.5. How the COVID-19 outbreak has impacted the sector?
8 COMPANY PROFILES
8.1. Samsung Fire & Marine Insurance Co Ltd
8.2. Hyundai Marine & Fire Insurance Co Ltd
8.3. Hanwha Life Insurance Co Ltd
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
LIST OF TABLES
Table 1: South Korea insurance market value: $ billion, 2016-20(e)
Table 2: South Korea insurance market category segmentation: $ billion, 2020(e)
Table 3: South Korea insurance market geography segmentation: $ billion, 2020(e)
Table 4: South Korea insurance market value forecast: $ billion, 2020-25
Table 5: South Korea insurance market share: % share, by value, 2020(e)
Table 7: Samsung Fire & Marine Insurance Co Ltd: Key Employees
Table 8: Samsung Fire & Marine Insurance Co Ltd: Key Employees Continued
Table 10: Hyundai Marine & Fire Insurance Co Ltd: Key Employees
Table 11: Hyundai Marine & Fire Insurance Co Ltd: Key Employees Continued
Table 13: Hanwha Life Insurance Co Ltd: Key Employees
Table 14: South Korea size of population (million), 2016-20
Table 15: South Korea gdp (constant 2005 prices, $ billion), 2016-20
Table 16: South Korea gdp (current prices, $ billion), 2016-20
Table 17: South Korea inflation, 2016-20
Table 18: South Korea consumer price index (absolute), 2016-20
Table 19: South Korea exchange rate, 2015-19
Table 1: South Korea insurance market value: $ billion, 2016-20(e)
Table 2: South Korea insurance market category segmentation: $ billion, 2020(e)
Table 3: South Korea insurance market geography segmentation: $ billion, 2020(e)
Table 4: South Korea insurance market value forecast: $ billion, 2020-25
Table 5: South Korea insurance market share: % share, by value, 2020(e)
Table 7: Samsung Fire & Marine Insurance Co Ltd: Key Employees
Table 8: Samsung Fire & Marine Insurance Co Ltd: Key Employees Continued
Table 10: Hyundai Marine & Fire Insurance Co Ltd: Key Employees
Table 11: Hyundai Marine & Fire Insurance Co Ltd: Key Employees Continued
Table 13: Hanwha Life Insurance Co Ltd: Key Employees
Table 14: South Korea size of population (million), 2016-20
Table 15: South Korea gdp (constant 2005 prices, $ billion), 2016-20
Table 16: South Korea gdp (current prices, $ billion), 2016-20
Table 17: South Korea inflation, 2016-20
Table 18: South Korea consumer price index (absolute), 2016-20
Table 19: South Korea exchange rate, 2015-19
LIST OF FIGURES
Figure 1: South Korea insurance market value: $ billion, 2016-20(e)
Figure 2: South Korea insurance market category segmentation: % share, by value, 2020(e)
Figure 3: South Korea insurance market geography segmentation: % share, by value, 2020(e)
Figure 4: South Korea insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the insurance market in South Korea, 2020
Figure 6: Drivers of buyer power in the insurance market in South Korea, 2020
Figure 7: Drivers of supplier power in the insurance market in South Korea, 2020
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in South Korea, 2020
Figure 9: Factors influencing the threat of substitutes in the insurance market in South Korea, 2020
Figure 10: Drivers of degree of rivalry in the insurance market in South Korea, 2020
Figure 11: South Korea insurance market share: % share, by value, 2020(e)
COMPANIES MENTIONED
Samsung Fire & Marine Insurance Co Ltd
Hyundai Marine & Fire Insurance Co Ltd
Hanwha Life Insurance Co Ltd
Figure 1: South Korea insurance market value: $ billion, 2016-20(e)
Figure 2: South Korea insurance market category segmentation: % share, by value, 2020(e)
Figure 3: South Korea insurance market geography segmentation: % share, by value, 2020(e)
Figure 4: South Korea insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the insurance market in South Korea, 2020
Figure 6: Drivers of buyer power in the insurance market in South Korea, 2020
Figure 7: Drivers of supplier power in the insurance market in South Korea, 2020
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in South Korea, 2020
Figure 9: Factors influencing the threat of substitutes in the insurance market in South Korea, 2020
Figure 10: Drivers of degree of rivalry in the insurance market in South Korea, 2020
Figure 11: South Korea insurance market share: % share, by value, 2020(e)
COMPANIES MENTIONED
Samsung Fire & Marine Insurance Co Ltd
Hyundai Marine & Fire Insurance Co Ltd
Hanwha Life Insurance Co Ltd